View of Galt Ocean Mile condo here in Fort Lauderdale FL

Galt Ocean Mile Condos Sales Data – July 2017

Galt Ocean Mile
Condos Sales

In this post we review recent sales of Galt Ocean Mile condos over the last 6 months and I share my thoughts on these statistics.

Key Sales Statistics
for Buyers / Sellers

  • Sales Prices from $138,000 – $2,489,000

Median Sales Prices

  • Sales Price last 6 Months $415,000
    -2 Bedroom 2 Bathroom Unit
  • Median Sales to List Price 94%
  • Days on Market 78 Days

It is also important to note is that median sales prices for Galt Ocean Mile condos overall are back on the rise!

Search Galt Ocean Mile Condos for Sale

In this post we cover median sales prices by bedroom, list price to sales price as well as days on market.

View 2 bedroom Galt Ocean Mile condo recently sold in Southpoint - Unit 804N
View 2 bedroom Galt Ocean Mile condo recently sold in Southpoint – Unit 804N

Galt Ocean Mile
Prices by Bedroom

Our market summary report(s) for these sales of Galt Ocean Mile condos over the last 6 months by bedroom.

BEDS / BATHS L/AREA S/P$ SP$/SqFt
0 / 1 550 $187,499 $342.00
1 / 1 1026 $265,000 $256.00
2 / 2 1575 $455,000 $312.00
3 / 2 2318 $702,500 $326.00

We can see from this report that the median sales price for a:

  • Galt Ocean Mile studio unit over the last 6 months has been $187,499 – this being for a unit of 550 square feet with a sales price to square foot price of $342.00 – In our last post the median sales price for a studio unit was lower at $175,000 – this being for a smaller unit of 477 square feet with a sales price to square foot price of $283.00
  • Galt Ocean Mile 1 bedroom unit over the last 6 months has been $265,000this being for a 1 bedroom 1 bathroom unit of 1026 square feet with a sales price to square foot price of $256.00 – In our last post the median sales price for a 1 bedroom unit was higher at $273,000 – this being for a 1 bedroom 1 bathroom unit of 1076 square feet with a sales price to square foot price of $263.00
  • Galt Ocean Mile 2 bedroom unit over the last 6 months has been $455,000 – this being for a 2 bedroom 2 bathroom unit of 1575 square feet with a sales price to square foot price of $312.00 – In our last post the median sales price for a 2 bedroom unit was lower at $445,000 – this being for a slightly larger 2 bedroom 2 bathroom unit of 1650 square feet with a sales price to square foot price of $291.00
  • Galt Ocean Mile 3 bedroom unit over the last 6 months has been $702,500this being for a 3 bedroom 2 bathroom unit of 2318 square feet with a sales price to square foot price of $326.00 – In our last post the median sales price for a 3 bedroom unit was much higher at $865,000 – this being for a larger 3 bedroom 2 bathroom unit of 2596 square feet with a sales price to square foot price of $417.00
View Galt Ocean Mile condo recently sold in L'Hermitage Fort Lauderdale - Unit 2505
View Galt Ocean Mile condo recently sold in L’Hermitage Fort Lauderdale – Unit 2505

Galt Ocean Mile
Condo Sales

There have been 159 sales of Galt Ocean Mile condos here in Fort Lauderdale for the last 6 Months – and sales this month are up at 33 condos sold.

Galt Ocean Mile condo sales volume Jan 2017 - June 2017
Galt Ocean Mile condo sales volume Jan 2017 – June 2017

We can see how over the last 6 months the volume of sales for Galt Ocean Mile condos!

Months Sales Volume
Jan 15
Feb 22
Mar 32
Apr 28
May 29
Jun 33

It is really great to see sales continue to rise – up this month to 33 condos sold for June 2017.

Also important to note that overall sales volume is also on the rise….

In our last post on Galt Ocean Mile condos there had been 130 sales over the preceding 6 months and in our prior post there had been 106 sales of Galt Ocean Mile condos over the preceding 6 months!

Galt Ocean Mile
Condo Sales Data

Our market analysis report showing the MLS sales data for these 159 Galt Ocean Mile condo sales over the last 6 months is presented below:

$$ BEDS / BATHS LA SP$
Min 0 / 1 310 $138,000
Max 5 / 4 4692 $2,489,000
Avg 2 / 2 1480 $481,013
Median 2 / 2 1435 $415,000

We can see from this report that the median sales price over the last 6 months has been $415,000 – this being for a smaller 2 bedroom 2 bathroom unit of 1435 square feet!

In our last post the the median sales price over the prior 6 months was $413,000 – this being for a 2 bedroom 2 bathroom unit of 1640 square feet

In our last post the the median sales price over the prior 6 months was $425,000 – this being for a 2 bedroom 2 bathroom unit of 1640 square feet

Also important to note is the range of prices paid – from $150,000 to $2,489,000 for a luxury Galt Ocean Mile condo in L’Hermitage – Unit 1208 – a double corner unit in Tower II!

Square Foot Prices
Condos Sold

Here is our market summary report showing square foot prices paid for Galt Ocean Mile condos sold here in Fort Lauderdale over the last 6 months.

$$ SP$/SqFt
Min $179.00
Max $959.00
Avg $314.00
Median $294.00

We can see from this report that the median sales price to square foot price paid for a Galt Ocean Mile condo sold over the last 6 months has been $294.00 per square foot  – up $10.00 per square foot from our last post!

In our last post the the median sales price to square foot price paid for a Galt Ocean Mile condo sold over the prior 6 months was $284.00

Important to note is the highest price paid at $959.00

% Sales to List Price

An important real estate indicators that is important to note is how much  buyers are paying for Fort Lauderdale Condos for sale here on Galt Ocean Mile – we can gauge this based on the percentage of sales price to list price paid by buyers.

The market analysis report for this is presented below

$$ SP$/LP$
Min 80%
Max 108%
Avg 94%
Median 94%

We can see from this report that BOTH the average and median sales price to list price for a Galt Ocean Mile condo sold over the last 6 months has been 94%

The median sales price to list price at 94% is the same as in our last post!

This means if a Fort Lauderdale condo for sale here on Galt Ocean Mile is listed at $450,000 – then based on median sales data the condo would sell for 92% of that amount or $414,000.

Days on Market

Days on market for Galt Ocean Mile Condos for Sale in is an important indicator on how strong demand is for Fort Lauderdale condos for sale in this prime direct oceanfront location.

Here is the market analysis report for Days on Market based on condo sales over the last 6 months.

$$ DOM
Min 1
Max 506
Avg 119
Median 78

We can see from this report that the average days on market for a Fort Lauderdale condo for Sale here on Galt Ocean Mile is 119 days.

More importantly is the median days on market at 78 days

It is important to note that this is down from 91 days in our last post, which was down from 105 days in our prior post which was down from 114 days in our earlier post!

Days on market is the time from when the condo was listed for sale till the condo sold AND closed.

Kevin Wirth Realtor / Real Estate Agent

My Thoughts / Summary

Currently median sales prices for Galt Ocean Mile condos overall are back on the rise…

There is still some softness – for example with 3 bedroom units!

It is encouraging however to note that the sales volume of Galt Ocean Mile condos is rising – up this month at 159 units from 103 units sold!

I am continuing to see increased buyer activity on the Galt and I am confident that sales volume AND median prices will continue to rise!

I hope you enjoyed this post on Galt Ocean Mile Condos for Sale – Kevin Wirth Realtor

Read our last post of Galt Ocean Mile Condos